National and International News :
1. MyGov, in collaboration with Ministry of Culture, launches “ YUVA PRATIBHA – Singing Talent Hunt ”
A new initiative called “YUVA PRATIBHA – Singing Talent Hunt” was launched on 10th May 2023 by MyGov in association with Ministry of Culture. The aim of this initiative is to nurture and showcase the young and emerging singers of India in various genres such as Folk, Patriotic, and Contemporary.
- The participants can submit their entries for the competition for a duration of one and a half months.
This is a great chance for the citizens of India to exhibit their singing abilities and talents and to get national recognition.
The winners of the 1st, 2nd, and 3rd positions will receive Rs 1,50,000, Rs 1,00,000, and Rs 50,000, respectively, along with a Trophy and Certificate. The top 3 winners will also get a mentorship for a period of 1 month with a stipend.
2. MoHFW launches a Learning Management Information System - “ SAKSHAM ”
The Ministry of Health and Family Welfare (MoHFW) under the leadership of Union Minister Rajesh Bhushan has launched SAKSHAM (Stimulating Advanced Knowledge for Sustainable Health Management). Developed by the National Institute of Health & Family Welfare (NIHFW) in New Delhi, SAKSHAM is a learning management information system (LMIS) aimed at providing medical education and training to all healthcare professionals in India on a single, dedicated platform.
- SAKSHAM ensures inclusive capacity building for healthcare professionals from primary health centers in remote areas to tertiary care and corporate hospitals in metropolitan cities. Currently, SAKSHAM hosts over 200 public health and 100 clinical courses online. Upon successful completion of the necessary training and assessment, healthcare professionals can register for clinical courses on the portal https://lmis.nihfw.ac.in/ and obtain certification.
3. CCI clears Edelweiss, ESOF III Investment Fund and Biocon Biologics deal
The Competition Act, 2002 has approved the subscription of certain compulsorily convertible debentures issued by Biocon Biologics Ltd (BBL) by Edelweiss Alternative Asset Advisors (EAAA) and ESOF III Investment Fund under Section 5(a).
The Parties Involved -
Edelweiss Alternative Asset Advisors Limited and ESOF III Investment Fund.
Biocon Biologics Limited.
Key Points :
(i) EAAA is an alternative asset advisor registered with the Securities and Exchange Board of India (SEBI).
(ii) ESOF III Investment Fund is a Category II Alternative Investment Fund (AIF) registered with SEBI.
(iii) BBL is a global leader in biosimilars, engaged in the manufacturing and commercialisation of pharmaceutical formulations.
Please note that -
(i) The activities of the Parties involved in the Proposed Combination do not demonstrate any horizontal, vertical, or complementary overlaps in any of the possible relevant markets in India.
(ii) The Proposed Combination is being notified under the green channel route as per Regulation 5A and Schedule III of the CCI (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (as amended).
4. CM Pushkar Singh Dhami releases Book on Cybercrime Titled “ Cyber Encounters ” in Hindi Version
On 7th May 2023, Pushkar Singh Dhami, Chief Minister (CM) of Uttarakhand, launched the Hindi version of “Cyber Encounter: Cops’ Adventures With Online Criminals” (साइबर एनकाउंटसस) at St Joseph’s Academy, Rajpur Road, Dehradun, Uttarakhand. This version has been published by Prabhat Prakashan Pvt. Ltd.
- The book was originally written in English by Ashok Kumar, the Director General of Police(DGP) of Uttarakhand, and co-authored by OP Manocha, a former scientist of the Defence Research and Development Organisation (DRDO) and published by Ebury Press.
- The book provides information about the world of cybercriminals and the challenges faced by law enforcement agencies while tracking and catching them.
5. ACC Appointed IAS officer Vineet Joshi as new Chief Secretary in Manipur
Vineet Joshi, a 1992 Manipur cadre IAS officer, has been appointed as the new Chief Secretary in Manipur by the Appointments Committee of the Cabinet (ACC) on May 7th, 2023. This decision comes after the replacement of Dr. Rajesh Kumar, whose term was extended for six months in December 2022 but was shortened due to Vineet Joshi's appointment.
- Additionally, Vineet Joshi will replace three other IAS officers: MH Khan (1988 cadre), Moses Challai (1990 cadre), and P Vaiphei (1991 cadre), all of Manipur cadre. The Government of Manipur requested Vineet Joshi's appointment to handle the recent clashes that occurred in the state after a 'Tribal Solidarity March' was organized in the 10 hill districts on May 3, 2023, to protest against the Meitei community's demand for Scheduled Tribe (ST) status. As of now, 23,000 individuals affected by the violence have been rescued and relocated to military garrisons.
6. Max Verstappen of Red Bull won the F1 Miami Grand Prix 2023
Dutch-Belgian racing driver Max Verstappen of Red Bull won the Formula 1(F1) Miami Grand Prix(GP) 2023 title, the 5th round of the 2023 F1 World Championship, at the Miami International Autodrome, Hard Rock Stadium in Miami Gardens, Florida, the United States of America(USA).
- This marks Max Verstappen’s 38th career win, tying him with Sebastian Vettel for most victories for Red Bull.
- Mexico’s Sergio Perez (Red Bull) finished 2nd and Spain’s Fernando Alonso (Aston Martin) finished 3rd in Miami GP 2023.
- The Miami GP 2023, officially known as the F1 Crypto.com Miami Grand Prix 2023, is the 2nd edition of Miami GP. The inaugural edition was held in 2022.
Note : Max Verstappen was the inaugural winner of the Miami GP in 2022.
7. Asian Weightlifting Championships Jinju 2023
Indian weightlifters concluded the Asian Weightlifting Championships Jinju 2023 in Jinju South Korea, with a total of 3 silver medals.
- Asian Weightlifting Championships Jinju 2023 was held from 03 to 13 May 2023 in Jinju South Korea.
Asian Weightlifting Championships 2023 : India’s medal winners
8. South Asian American Author Fatimah Asghar wins Inaugural Carol Shields Prize for Fiction
Fatimah Asghar a South Asian American poet and screenwriter, won the inaugural Carol Shields Prize for Fiction for her debut novel When We Were Sisters published by One World/Random House'
- In addition to the cash prize of USD 150 000 Fatimah Asghar will receive a residency at the award winning Fogo Island Inn in Newfoundland and Labrador, Canada.
9. 3 Indian Student Teams Won NASA HERC 2023 Competition
Three student teams from India won the NASA Human Exploration Rover Challenge ( 2023 competition which was held near NASA s Marshall Space Flight Center, in Huntsville, Alabama, USA .
- The Director for NASA s Space, Time, Energy and Mass (STEM) Engagement Southeast Region Kevin McGhaw presented the award to the teams.
- Winners of the NASA HERC 2023 from India :
Project Review Award :
(i) College/University Division - Birla Institute of Technology and Science, Pilani, Rajasthan
Social Media Award :
(i) High School Division - Young Tinker Educational Foundation, Bhubaneswar, Odisha
(ii) College/University Division - KIET Group of Institutions, Ghaziabad, Uttar Pradesh
10. Footballer Cristiano Ronaldo Tops Forbes' World's 10 Highest Paid Athletes 2023
According to Forbes' World's 10 Highest Paid Athletes 2023 Footballer Cristiano Ronaldo (Portugal) has become the highest paid athlete in the world in 2023 after he moved to Saudi Arabia's Al Nassr in January 2023 .
- He topped the list with a total earning of USD 136 million USD : 46 million on-field and USD 90 million off-field.
Top 5 in The World’s 10 Highest Paid Athletes 2023 :
Banking and Finance News :
1. AU Small Finance Bank Partners with RuPay to Offer Cashback RuPay Credit Card
AU Small Finance Bank (SFB) has launched a new credit card in collaboration with RuPay, called the Business Cashback RuPay credit card. This credit card is designed to cater to the financial needs of self-employed customers, especially those who belong to the Micro, Small and Medium Enterprises (MSMEs) sector and to promote financial inclusion.
The credit card was unveiled by Dilip Asbe, the Chief Executive Officer (CEO) of National Payments Corporation of India (NPCI) and Sanjay Agarwal, the Managing Director (MD) & CEO of AU SFB.
- Benefits :
The cardholders can enjoy various benefits such as up to 2% cashback, 48 days of interest-free credit, and instant loans.
The card also provides fire insurance, burglary, and housebreaking coverage, etc. and helps the customers to manage their finances easily.
The credit card also offers lifestyle and travel benefits.
2. Kotak Mahindra Bank becomes India’s 1st to Relocate Mauritius Domiciled Fund to GIFT IFSC
Mumbai (Maharashtra)-based Kotak Mahindra Bank Limited has become India’s 1st to relocate Mauritius domiciled fund to Gujarat International Finance Tec-City (GIFT-city), Gujarat. On 6th May 2023, it successfully re-domiciled Alchemy India Long Term Fund from Mauritius to GIFT City, India’s 1st International Financial Services Centre (IFSC).
- Kotak Bank issued the 1st ever Foreign Portfolio Investment (FPI) licence to Alchemy’s Fund incorporated in GIFT and registered with the International Financial Services Centres Authority(IFSCA) for relocating from its original jurisdiction.
- This is the 1st FPI license issued by a custodian bank or designated depository participant (DDP) in India, to a fund incorporated in GIFT City, to relocate an existing fund.
[ In June 2023, Alchemy India Long Term Fund will complete 15 years of operation ]
3. Groww completes Rs 175 Cr Acquisition of Indiabulls’ Mutual Fund Business
Groww, an investment platform, has acquired the Mutual Fund business of Indiabulls Housing Finance Loans (IBHFL) for Rs.175.6 crore, including a cash equivalent of Rs.100.62 crore, after receiving the necessary approvals. In May 2021, Groww signed an agreement with IBHFL to acquire the entire stake of IBHFL in its mutual fund subsidiaries, Indiabulls Asset Management Company Limited (IAMCL) and Indiabulls Trustee Company Limited (ITCL), trustee of IAMCL.
The transaction received approval from the competition regulator Competition Commission of India (CCI) in September 2021. The closing date of the transaction was May 3, 2023, and Groww has no control or shareholding in IAMCL and ITCL after the closing date.
The sale of IAMCL was limited to only the mutual fund part of the business, while the Alternate Investment Fund (AIF) and Portfolio Management Service (PMS) businesses will remain under IBHFL. Tiger Global and Sequoia, who invested in Groww, will now be able to launch and manage their own mutual funds.
- Groww has raised $393 million to date and was last valued at $3 billion in October 2021 after raising $251 million in a round led by ICONIQ Growth, a tech-focused direct investment effort affiliated with ICONIQ Capital, an American wealth management and investment firm.
About Groww :
CEO&Co-founder : Lalit Keshre
Headquarters : Bengaluru, Karnataka
Founded in : 2016 (started operations in 2017)
4. Max Life, IIA join hands to offer Life Insurance Access to 11 lakh MSME workforce in UP
Max Life Insurance Company Ltd. (Max Life) has entered into a strategic partnership with the Indian Industries Association (IIA) to offer life insurance plans to the MSME sector’s workforce in Uttar Pradesh (UP).
- This partnership will enable Max Life to leverage IIA’s extensive network across industrialized districts, and provide life insurance access to more than 11 lakh MSME workforce and their families in the State, as well as reach underserved population in UP.
- Sana Insurance Brokers Pvt. Ltd. will act as the enrolment partner to engage with the MSME workforce for these activities.
About Max Life Insurance Company Ltd. (Max Life) :
It is a joint venture between Max Financial Services (part of Max Group) and Axis Bank.
Managing Director & Chief Executive Officer : Prashant Tripathy
Headquarters : Gurugram, Haryana
About Indian Industries Association (IIA) :
President : Ashok Kumar Agarwal
National Office : New Delhi, Delhi
Other News :
1. Sahitya Akademi Awardee & Bengali author Samaresh Majumdar Passed away
On 8th May 2023, the Sahitya Akademi Award winner and popular Bengali writer Samaresh Majumdar passed away at the age of 79 in Kolkata, West Bengal. He was born on March 10, 1944 in Jalpaiguri, West Bengal.
- About Samaresh Majumdar :
Samaresh Majumdar is a famous Bengali writer who began his writing career with his novel "Dour" (Run) published in the Bengali literary magazine "Desh" in 1976, which was later adapted into a film in 1979.
Majumdar is renowned for his Animesh quartet, consisting of four novels - Uttoradhikar, Kalbela, Kalpurush, and Mousalkal, which are now considered modern classics.
In 1984, he won the Sahitya Akademi Award for the second novel of the Animesh quartet, "Kalbela," which was based on the Naxalite movement in West Bengal in the 1960s and 1970s. This novel was later adapted into a film of the same name by director Gautam Ghosh in 2009.
Majumdar is also known for his character "Arjun," a detective cum science fiction character in his detective novels "Adventures of Detective Arjun." The 2013 film "Arjun - Kalimpong E Sitaharan" is based on his novels "Sitaharan Rahasya" and "Khunkharapi."
Besides his literary works, Majumdar has also written several film scripts and received awards for his contributions to the film industry. He published a novel titled "BunoHaansh" in PujabarshikiAnondolok, which was later adapted into a Bengali film named "Buno Haansh" in 2014.
Majumdar has received several awards and honors for his contributions to Bengali language and culture, including the Bankim Puroshkar award in 2009 and the Banga Bibhushan Samman title in 2018, instituted by the West Bengal government. He was also awarded the BFJA (Bengal Film Journalists' Association Awards), Dishari, and ChalachitraPrasar Samiti award in 1982 for Best Script Writer.
2. Rabindranath Tagore Jayanti - 9th May
To commemorate his birth anniversary, Rabindranath Jayanti is celebrated across the country on the 25 th day of the Bengali month Boishakh.
- This year the country will observe the 162 nd birth anniversary of Rabindranath Tagore on 9th May.
- However, Rabindranath Jayanti is also celebrated on May 7 by a few organisations and in some places.
3. International Day of Argania 2023 - 10th May
The United Nations(UN)’s International Day of Argania is annually observed across the world on 10th May to create awareness about the major role of the Argan Tree (Argania spinosa), the native species of Morocco, in achieving the 3 dimensions of sustainable development (economic, social and environmental) at the local level.
- 10th May 2023 Marks the observance of the 3rd edition of International Day of Argania.
Theme : The theme of International Day of Argania 2023 is "Socio-economic development & sustainability of the Argan ecosystem".
The 2023 theme aims to highlight the role of Argania in reinforcing resilient communities, contributing to food security and adapting to climate change while empowering rural women through the support and promotion of cooperatives and agricultural organizations.
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